CAN INDIA BRING OUR UNEMPLOYMENT RATE TO ZERO
According to the Periodic Labour Force Survey the unemployment rate in India has a declining trend: 2020-21= 4.2%, 2021-22 = 4.1%, 2022-23 = 3.2%. The percentage of unemployment shown above may appear to be not very high in comparison with other countries. While looking at our large population these cannot be small in numbers. Over and above these when we add the figures of under employed, those unaccounted found in large numbers in the agricultural sector, the youth passing out every year etc into consideration the actual figures may be much higher. We may also keep in mind that there are countries like South Africa with 29.8%, Djibouti with 27.9%, West Bank/Gaza with 25.7% etc have high rates of unemployment. While assessing the employment rate, the median age too holds significance. Countries with lowest median age are, Niger 15.3, Uganda 15.7 and Mali 16.2. When we take the work force, India is on the best layer of the median age 28.4 (29.8). The median age of Japa...